Labour Supply
6 important questions on Labour Supply
All of the following describe a demogrant except:
a. an income grant to a specific demographic group
b. the simplest income maintenance program
c. A grant whose amount varies with the worker's wage
d. a lump-sum transfer
e. That it shifts the potential income constraint vertically upward
Which of the following is NOT a way to improve work incentives for welfare recipients?
a. Increase the market wages for jobs for which welfare recipients might be qualified to perform.
b. Reduce the very high implicit tax rate that is applied to earnings of welfare recipients.
c. Alter the preferences that certain recipients might have for leisure compared to work.
d. Raise the benefit level.
e. Provide welfare recipients with job training and counselling services.
In the income-leisure framework, the impact of a demogrant payment involves which of the following?
a. Only a substitution effect
b. Only an income effect
c. Both a substitution and an income effect
d. A reservation wage effect
e. No impact on incentives at all
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Which of the following statements regarding the negative income tax scheme is true?
a. There is no substitution effect involved
b. It reduces work incentives relative to the situation of traditional welfare
c. It reduces work incentives relative to the situation of no welfare
d. It increases work incentives relative to the situation of no welfare
e. It is neutral as far as work incentives are concerned, but it makes recipients better off
The reason for which worker's disability insurance can potentially have adverse effects on work incentives is that:
a. the income that it provides enables one to reach a certain income level without any work obligation.
b. the opportunity cost of leisure increases.
c. the recipient is allowed to work as many hours as he/she can without losing any of the benefits.
d. the taxes that finance the benefits can have negative effects on labour demand.
e. All of the answer choices are correct.
Consider a worker who has small children. All of the following are effects of incurring child care expenses except:
a. that they increase reservation wages.
b. that they might decrease labour force participation.
c. that they increase the hours of work for labour market participants.
d. that they reduce the hours of work for labour market participants.
e. None of the above, as they are all effects.
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